— The Board of Directors of Mitsubishi Motors Corporation (MMC), Tokyo, and the Supervisory Board of DaimlerChrysler AG (DC), Stuttgart, have approved today a non-binding Terms Sheet as the basis for the official undertaking of discussions regarding stoppage of production of the smart forfour at Netherlands Car B.V. (NedCar).
The approvals follow DC's announcement regarding its intention to stop the production of smart forfour. MMC and DC will now proceed with negotiations.
Regardless of the action that will be taken in the future regarding the smart model, MMC will continue its production of the Colt, which enjoys a favorable reputation in the European market, at NedCar.
